Illinois HB 2702: INC TX-PASS-THROUGH ENTITIES
Status: Rule 19(a) / Re-referred to Rules Committee (as of 2025-03-21)
State: Illinois · Session: 104th · Bill: HB 2702
Sponsors: Curtis J. Tarver, II
Bill Text
• Illinois General Assembly - Full Text of HB2702 • • • • • • • • • • • • Select Language × The Illinois General Assembly offers the Google Translate™ service for visitor convenience. In no way should it be considered accurate as to the translation of any content herein. Visitors of the Illinois General Assembly website are encouraged to use other translation services available on the internet. The English language version is always the official and authoritative version of this website. NOTE: To return to the original English language version, select the "Show Original" button on the Google Translate™ menu bar at the top of the window. Choose Language English Afrikaans Albanian Arabic Armenian Azerbaijani Basque Bengali Bosnian Catalan Croatian Czech Danish Dutch Esperanto Estonian Filipino Finnish French Galician Georgian German Greek Gujarati Haitian Creole Hausa Hawaiian Hebrew Hindi Hungarian Icelandic Indonesian Interlingua Interlingue Inuktitut Irish Italian Japanese Javanese Kannada Khmer Korean Latin Latvian Lithuanian Luxembourgish Macedonian Malagasy Malayalam Maltese Maori Marathi Myanmar Nepali Norwegian Odia Pashto Punjabi Romanian Russian Samoan Sango Sanskrit Sardinian Sindhi Sinhala Slovak Slovenian Somali Southern Sotho Spanish Sundanese Swahili Swedish Tamil Telugu Thai Tigrinya Tonga Turkish Ukrainian Urdu Vietnamese Welsh Xhosa Yiddish Yoruba Zulu Powered by Translate Close Illinois General Assembly Top Navigation Bar Translate Learn Select General Assembly Search the 104th General Assembly Enter search terms for legislation, members, committees, or schedules. ILGA.GOV • • LEGISLATION & LAWS • Bills & Resolutions • Public Acts • Illinois Compiled Statutes • Illinois Constitution • Search Legislation • Glossary • Guide • Reports & Inquiry • Legislative Reports • Special Reports • FTP Site • Legislator Lookup • Capitol Complex Phone Numbers • Rules & Regulations • Illinois Register • Administrative Rules • Senate • Members • Schedules • Committees • Request for Remote Testimony • Journals • Transcripts • Rules • Audio/Video • FOIA Information • Senate Employment Opportunities • Media Guidelines • House • Members • Schedules • Committees • Submit testimony for House Committees • Journals • Transcripts • Rules • Audio/Video • FOIA Information • House Employment Opportunities • Log In Mobile Top Bar Search the 104th General Assembly Enter keywords to search the Illinois General Assembly website. Full Text of HB2702 • Home • Legislation • Full Text HB2702 - 104th General Assembly • Bill Status • Full Text • Votes • Witness Slips Select Menu Bill Status Full Text Votes Witness Slips Printer Friendly Version Introduced Printer Friendly Version Introduced Open PDF 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB2702 Introduced 2/6/2025, by Rep. Curtis J. Tarver, II SYNOPSIS AS INTRODUCED: 35 ILCS 5/201 Amends the Illinois Income Tax Act. Removes provisions providing that the pass-through entity level election applies only for tax years beginning prior to January 1, 2026. Effective immediately. LRB104 08336 HLH 18387 b A BILL FOR HB2702LRB104 08336 HLH 18387 b 1 AN ACT concerning revenue. 2 Be it enacted by the People of the State of Illinois, 3represented in the General Assembly: 4 Section 5. The Illinois Income Tax Act is amended by 5changing Section 201 as follows: 6 (35 ILCS 5/201) 7 Sec. 201. Tax imposed. 8 (a) In general. A tax measured by net income is hereby 9imposed on every individual, corporation, trust and estate for 10each taxable year ending after July 31, 1969 on the privilege 11of earning or receiving income in or as a resident of this 12State. Such tax shall be in addition to all other occupation or 13privilege taxes imposed by this State or by any municipal 14corporation or political subdivision thereof. 15 (b) Rates. The tax imposed by subsection (a) of this 16Section shall be determined as follows, except as adjusted by 17subsection (d-1): 18 (1) In the case of an individual, trust or estate, for 19 taxable years ending prior to July 1, 1989, an amount 20 equal to 2 1/2% of the taxpayer's net income for the 21 taxable year. 22 (2) In the case of an individual, trust or estate, for 23 taxable years beginning prior to July 1, 1989 and ending HB2702- 2 -LRB104 08336 HLH 18387 b 1 after June 30, 1989, an amount equal to the sum of (i) 2 2 1/2% of the taxpayer's net income for the period prior to 3 July 1, 1989, as
View Illinois HB 2702 on LegisTrack → — full text, sponsors, votes, campaign finance, and cross-state matches.